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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Lazelle Rd Columbus, OH 43240

    • Office buildings
    • 43.28 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-3842740
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for Lazelle Rd

    Lot size
    43.28 lot acres
    Property type
    Office buildings
    APN
    318-344-01-008-000
    APU
    31834401008000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbus
    County
    Delaware
    State
    Ohio
    Longitude
    -82.9978
    Latitude
    40.1383
    CBSA code
    18140
    CBSA name
    COLUMBUS, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $151,357
    $2,127,060
    $103,010
    $2,230,070
    -
    $6,077,300
    $294,300
    $6,371,600

    Comparable in this City

    • Value Estimation
      $13,825,000
      170,317 SF

      8787 Orion Pl

      OFFICE BUILDING • 170,317 SF
      8787 Orion Pl, Columbus, OH 43240-4027
      View Details
    • Value Estimation
      $5,490,000
      57,594 SF

      8720 Orion Pl

      OFFICE BUILDING • 57,594 SF
      8720 Orion Pl, Columbus, OH 43240-2111
      View Details
    • Value Estimation
      $14,745,000
      152,540 SF

      8850 Lyra Dr

      OFFICE BUILDING • 152,540 SF
      8850 Lyra Dr, Columbus, OH 43240-2295
      View Details
    • Value Estimation
      $1,190,000
      8,850 SF

      8820 Commerce Loop Dr

      OFFICE BUILDING • 8,850 SF
      8820 Commerce Loop Dr, Columbus, OH 43240-2121
      View Details
    • Value Estimation
      $6,635,000
      74,200 SF

      2001 Polaris Pkwy

      OFFICE BUILDING • 74,200 SF
      2001 Polaris Pkwy, Columbus, OH 43240-2000
      View Details
    • Value Estimation by Request
      2,280 SF

      9039 Antares Ave Ste E2

      OFFICE BUILDING • 2,280 SF
      9039 Antares Ave Ste E2, Columbus, OH 43240-4067
      View Details

    Similar Nearby for Sale

    • $1,025,000
      5,130 SF

      Polaris Area Flex/Retail/Office Building

      5,130 SF building ideal for flex, office, or retail.
      9015 Antares Ave, Columbus, OH 43240
      View Details
    • $8,000,000
      72,588 SF

      Move-in Ready Office Building

      Ready for occupancy office building with high parking ratio.
      1000 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $8,695,000
      4,884 SF

      Multi-Tenant Office Property For Sale

      Three-story office building in Polaris location with immediate suite availability.
      8740 Orion Pl, Columbus, OH 43240
      View Details
    • $1,025,000
      5,130 SF

      Polaris Area Flex/Retail/Office Building

      5,130 SF building ideal for flex, office, or retail.
      9015 Antares Ave, Columbus, OH 43240
      View Details
    • $900,000
      1 SF

      Polaris Fashion Place Retail Pad

      Prime 1.62-acre retail lot near Polaris Fashion Place.
      1292 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $3,300,000
      12,000 SF

      Retail Building Near Polaris Development

      12,000 sq ft building in the Polaris area.
      8600 Sancus Blvd, Columbus, OH 43240
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      5,347 SF

      Class A Office Space Available

      Four-story Class A office buildings near Polaris I-71 Interchange.
      8425 Pulsar Pl, Columbus, OH 43240
      View Details
    • $3,382,000
      11,565 SF

      Polaris Parkway Office Opportunity

      Office building with frontage, visibility, and renovated common areas.
      999 Polaris Pkwy, Columbus, OH 43240
      View Details
    • $12 SF/Yr
      28,947 SF

      Prime Polaris Executive Office Space

      Columbus Office Building - 28,947 SF Available
      8760 Orion Pl, Columbus, OH 43240
      View Details
    • $13 SF/Yr
      26,157 SF

      Spacious Office Space for Rent

      Large office space near Polaris Fashion Place with ample parking.
      8415 Pulsar Pl, Columbus, OH 43240
      View Details
    • Contact for pricing
      2,000 SF

      Mixed-Use Development with Retail Space

      Class A development featuring office, retail, residential, and hotel space.
      8924-8958 Lyra Dr, Columbus, OH 43240
      View Details
    • $22 SF/Yr
      2,250 SF

      Antares Drive Office Suite

      Second-floor office suite with private offices, conference room, kitchenette.
      9029-9039 Antares Ave, Columbus, OH 43240
      View Details
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    Lazelle Rd
    Columbus, OH 43240
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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